On 26 October 2020, Stuff.co.nz published an article (link below) concerning first home buyer, Bailey Ross. Ross had signed a contract to purchase a house, but according to the article, “was left heartbroken when the developer of the house she’d
Do you know someone who is thinking of lending money to their children (or borrowing from their parents) to help with the purchase of their first home? Our partners at ARL Lawyers have helped many families over the years and
If LVR rules were restricting you, ie you didn’t have enough cash or equity to use for a deposit, you now have more options. Factors working in your favour right now if you are thinking about property investment: LVR restrictions
Buying a home is the biggest financial commitment most people ever make, so it’s no surprise that saving for one can feel like an impossible task. Buying your first home takes commitment and hard work, but you may also be
On 20 April 2020, we posted our conversation with Luke Havler of ARL Lawyers entitled “COVID-19 & Property Settlements” This week, we asked Luke to comment on purchasing a new property “off-the-plans” as part of a development. Since purchasers may
The Reserve Bank has recently removed LVR restrictions for 12 months, which they will review on 1 May 2021. LVR stands for loan to value ratio and it is the amount of lending you have secured against the value of
Should you panic? No, absolutely not. Panic means: sudden uncontrollable fear or anxiety, often causing wildly unthinking behaviour. At times like this, it is crucial to think before acting and prepare in a way that minimises your anxiety. Sometimes recessionary
On 25 March 2020, New Zealand was placed under a Level 4 Alert lockdown for COVID-19 which has left many sellers and buyers of residential property facing uncertainty. So we asked Luke Havler, Property Solicitor from ARL Lawyers, to share
What is it? You delay payments by a period of time and add these to your mortgage to be repaid at a later date. You effectively borrow money from the bank to pay for your upcoming payments. You make no
What is revolving credit? A revolving credit loan acts in a similar way to a large overdraft account. A revolving credit account is a current account that can be withdrawn without notice. This type of account caters to frequent deposits
#2 of a 3-part series about mortgage structures and how to restructure your mortgage. In a previous blog post we discussed how mortgages can seem complex but how with the right advice, they can be made simple to understand and
To climb the property ladder the first step is always the hardest. Most people buy their own homes first, but you can start with an investment property. This is often referred to as rentvesting (ie you’re renting the home you
#1 of a 3 part series about mortgage structures and how to restructure your mortgage. Mortgages can seem complex but with the right advice, they can be made simple to understand. There are two options you can consider: Reduce repayments:
Most of us can’t buy a property with a bag full of cash, you will need a deposit and a home loan, but how much of a deposit do you need? There is no hard and fast rule in terms
Homeowners take great joy in tracking the estimated value of their property on homes.co.nz, when you subtract the amount owing on your mortgage you get an idea of your equity position – this is critical if you are thinking of
